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Apr 13, 2013
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ceiling. >> the debt ceiling, that even -- that makes me nervous. i'm twitching when i heard the words debt ceiling. stephen, do we think there's any more chance they're moving to at least some kinds of consensus of how we'll run the nation's books before we get to the debt ceiling? >> i'm not sure we are, actually. i think this budget was an ideological document -- >> aren't they all? wait, isn't that what it is, the president's mission statement, right? >> of course it is. no doubt about it. this is the president's statement. i worked for ronald reagan when we put our budgets. it's a statement of principle. the point i'm making is there's not a lot in here republicans are going to go say, oh, wonderful idea. we haven't talked about the new taxes which republicans will reject out of hand. the most interesting thing that happened this week when the president proposed what i think is a fairly modest change to social security, oh, my gosh, these organizations on the left, i mean, had cardiac arrest. and that makes me somewhat nervous about whether we'
ceiling. >> the debt ceiling, that even -- that makes me nervous. i'm twitching when i heard the words debt ceiling. stephen, do we think there's any more chance they're moving to at least some kinds of consensus of how we'll run the nation's books before we get to the debt ceiling? >> i'm not sure we are, actually. i think this budget was an ideological document -- >> aren't they all? wait, isn't that what it is, the president's mission statement, right? >> of course it...
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Apr 14, 2013
04/13
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simply not doable. >> negotiate on the debt ceiling. the president should not negotiate on the debt ceiling. if this budget is part of a negotiation, that's a the wrong strategy. they're saying they won't negotiate on the debt ceiling and they shouldn't because every time -- >> okay, but this is my frustration with that, because i heard that line in december in the run-up to the fiscal cliff talks. when the deal was cut on new year's eve, five minutes before new year's eve, the line was, you know, they did not include a faux long-term extension of the debt ceiling, they did not address sequestration -- >> two months. >> there was business in that. >> and, and, and, instead of extending the bush tax cuts for people under $400,000 for a year so that they would have bargaining leverage now when this comes up, or a couple months when this comes up, they extended it forever -- >> there are two issues which the white house has permitted to get away from it each time there has been a negotiation, the filibuster and the debt ceiling. those two
simply not doable. >> negotiate on the debt ceiling. the president should not negotiate on the debt ceiling. if this budget is part of a negotiation, that's a the wrong strategy. they're saying they won't negotiate on the debt ceiling and they shouldn't because every time -- >> okay, but this is my frustration with that, because i heard that line in december in the run-up to the fiscal cliff talks. when the deal was cut on new year's eve, five minutes before new year's eve, the line...
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Apr 12, 2013
04/13
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the debt ceiling needs to be raised this summer. and nobody really can tell me how that is going to happen. here at the white house the expectation is that republicans will simply cave on this. like they caved earlier in the year giving a temporary increase. republicans say there is no way that can happen. even if john boehner wanted to cave on this, he couldn't pass an extension of the debt ceiling on its own in the house without something else. so really, charlie, when we get to this, the question is, you know, does that become the final opportunity to have something that looks a little bit like the grand bargain. or at least as carney at one point called it, the pe at this time bargain. but some kind of an agreement that does do something on entitlements an something on taxes. >> rose: does the president get some credit and also some achievements from all the meetings he is having with republicans and with senators? >> i think he does. and maybe the biggest indication of that is they aren't really talking much about it. you know,
the debt ceiling needs to be raised this summer. and nobody really can tell me how that is going to happen. here at the white house the expectation is that republicans will simply cave on this. like they caved earlier in the year giving a temporary increase. republicans say there is no way that can happen. even if john boehner wanted to cave on this, he couldn't pass an extension of the debt ceiling on its own in the house without something else. so really, charlie, when we get to this, the...
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Apr 12, 2013
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and as debt ceiling once again approaches. i deed it was made all the more worrisome by the house republican hearing yesterday that focused on the debt ceiling in terms of the possibility of obligations, ur obligations all emanating from congressional actions. we cannot continue on this dangerous path. hopefully this hearing will serve a constructive opportunity to embrace a different path. i yield back. >> thank you so much, mr. levin. again,s this my pleasure to welcome secretary jack lew back to the committee on ways and means. we look forward to your testimony. the committee received your written statement t will be made part of the formal record and secretary lew, you're recognized for five minutes. >> thank you very much, mr. chairman and thank you, mr. chairman, ranking member levin for your gracious welcome here today. it's an honor to appear and present the president's budget for next year. i sit here as chairman noted surrounded by four decades of memories of many important occasions when bipartisan cooperation has m
and as debt ceiling once again approaches. i deed it was made all the more worrisome by the house republican hearing yesterday that focused on the debt ceiling in terms of the possibility of obligations, ur obligations all emanating from congressional actions. we cannot continue on this dangerous path. hopefully this hearing will serve a constructive opportunity to embrace a different path. i yield back. >> thank you so much, mr. levin. again,s this my pleasure to welcome secretary jack...
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Apr 14, 2013
04/13
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ceiling and stuff that's in the short run. >> austan goolsbee, david stockman, we'll come back to you. this debate is not going to go away with this budget. up next, we look at the biggest driver of debt and health care. how to cut those costs. we have a great debate, when we come back. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. to prove to you that aleve is the better choice for him, he's agreed to give it up. that's today? [ male announcer ] we'll be with him all day as he goes back to taking tylenol. i was okay, but after lunch my knee started to hurt again. and now i've got to take more pills. ♪ yup. another pill stop. can i get my aleve back yet? ♪ for my pain, i want my aleve. ♪ [ male announcer ] look for the easy-open red arthritis cap. ♪ to try on these amazing depend silhouette briefs. oh, it's cheryl burke! who's this guy? security. cher
ceiling and stuff that's in the short run. >> austan goolsbee, david stockman, we'll come back to you. this debate is not going to go away with this budget. up next, we look at the biggest driver of debt and health care. how to cut those costs. we have a great debate, when we come back. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male...
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Apr 11, 2013
04/13
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ceiling thing was going on because we need more taxes. this chain cpi, i don't think it's that terrible because when prices go up on certain things we buy, we as consumers do make choices to substitute for other product. sorry the highest respect for elizabeth warren i'm so happy she is in the senate -- >> stephanie: me too. and nancy pelosi agrees with you on that. >> yeah, we're in a world of tough decisions, stephanie. there just aren't any easy decisions anymore. it is going to hurt. the best thing we can all do -- david [ inaudible ] from the "new york times" wrote a small book about how the budget works. it's just interesting to understand what gets spent and how and then every one of us no matter whether we're liberal or conservative make an informed decision to say what am i prepared to give up, because it is going to be about giving something up. it's not going to be about getting more right now. >> stephanie: yeah, i do agree with you on -- that was the only leverage the president had when the taxes were going to go up anyway. a
ceiling thing was going on because we need more taxes. this chain cpi, i don't think it's that terrible because when prices go up on certain things we buy, we as consumers do make choices to substitute for other product. sorry the highest respect for elizabeth warren i'm so happy she is in the senate -- >> stephanie: me too. and nancy pelosi agrees with you on that. >> yeah, we're in a world of tough decisions, stephanie. there just aren't any easy decisions anymore. it is going to...
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Apr 14, 2013
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ceiling and stuff that's in the short run. >> ostaaustan goolsbee, david stockman, we'll come back to you. thank you very much. >>> up next, we look at the biggest driver of debt and health care. how to cut those costs. we have a great debate, when we come back. travelers a month find whatps 3n they're looking for. one traveler at a time. expedia. find yours. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. yes, it is. and need to get my car fixed? progressive makes it easy, because we give you choices. you can pick where to get your car fixed, we can cut you a check, or, at our service center, we take care of everything for you. [ relaxing music playing ] [ chuckles ] -whew, so many choices. -take your time. -the service center. -okay. giving you choices -- now, that's progressive. call or c
ceiling and stuff that's in the short run. >> ostaaustan goolsbee, david stockman, we'll come back to you. thank you very much. >>> up next, we look at the biggest driver of debt and health care. how to cut those costs. we have a great debate, when we come back. travelers a month find whatps 3n they're looking for. one traveler at a time. expedia. find yours. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national...
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Apr 11, 2013
04/13
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fourth him of the debt ceiling was going to derail our economy for certain, even if we manage to solve the fiscal cliff and the sequester lurked ominously. no matter what deal the politicians made. these would have course throw us off track and cause much higher unemployment. finally, four months ago, fourth quarter earnings, the reports were right around the corner and they were supposed to be, yes, nothing to write home about, or maybe worse, particularly the worldwide slowdown that europe seemed to be mandating, we could have huge downside surprises and the last time we had some pre-announcements -- wait a second. what actually happened? how about we had the best first quarter in 15 years. how is that possible? i think it's because the market has changed its animals. i'm not kidding. investors stopped being scared of washington or europe or earnings shortfalls and they decided to embrace the future, not spurn it. they became like ulysses and his crew, strapped to the mast, oblivious to the sell, sell, sell sirens of the saturnine set. where is sappho when you need him? we got to the
fourth him of the debt ceiling was going to derail our economy for certain, even if we manage to solve the fiscal cliff and the sequester lurked ominously. no matter what deal the politicians made. these would have course throw us off track and cause much higher unemployment. finally, four months ago, fourth quarter earnings, the reports were right around the corner and they were supposed to be, yes, nothing to write home about, or maybe worse, particularly the worldwide slowdown that europe...
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Apr 12, 2013
04/13
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ceiling issue, our clients can put more money they can find a discount. tracy: a good reminder to everybody they should have three to six months living expenses on the side, don't touch it. we have forgotten about that over the last couple of years because everybody is reaching into the couch for clients to pay the bills. you say you are in 44 countries, 12,000 stocks in your portfolio. how do you manage that many? how do you manage all of that? i can't keep track of my three kids. >> i have for kids, so i'm right there with you. and av clients. we use high efficiency oriented mutual funds to house the difference in stocks over the world. 12,000 different stocks, but we also, tracy, told the portfolio to that large value or the value orientation. the book value is $5 but the market $2.50. there is an intrinsic value. adding two to three basis points over time to my clients portfolios. we are fully invested all across the united states and globally in 244 different countries but we told the value to add a little extra boost for the long-term for my clients
ceiling issue, our clients can put more money they can find a discount. tracy: a good reminder to everybody they should have three to six months living expenses on the side, don't touch it. we have forgotten about that over the last couple of years because everybody is reaching into the couch for clients to pay the bills. you say you are in 44 countries, 12,000 stocks in your portfolio. how do you manage that many? how do you manage all of that? i can't keep track of my three kids. >> i...
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Apr 16, 2013
04/13
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whether it be concerns about the budget or the debt ceiling, it's one of these issues. >> and all of these come as the banks are performing very well. if you want to know whether they are safer, if they are better businesses compared to a year ago, that's another question, right, mary? >> take a look at the revenue. a number of banks would argue, yes, we are safer. but as far as revenue goes, this is speaks to how the businesses are performing. really the growth on the revenue front isn't there. it's either down or very slight increases in revenue growth. you are seeing improvement in profitability as these companies continue to cut costs. they're being very, very aggressive on expense management. and that's helping to drive the bottom line. >> let's get to ww gragranger. this is a big move in today's session. >> there was a company in the machinery and repair business, a good window into the industrial businesses, $240 stock, which is a big stock that people tend not to talk about. they miss sales estimates. sales continue to grow. interesting. they blamed it on one day less in the
whether it be concerns about the budget or the debt ceiling, it's one of these issues. >> and all of these come as the banks are performing very well. if you want to know whether they are safer, if they are better businesses compared to a year ago, that's another question, right, mary? >> take a look at the revenue. a number of banks would argue, yes, we are safer. but as far as revenue goes, this is speaks to how the businesses are performing. really the growth on the revenue front...
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Apr 11, 2013
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because the debt ceiling debate that's coming before us. >> let me tell you why you are not easing my indigestion, i am afraid of what success may look like. >> nobody gets all that they want. and it's about time we started to come to some sort of agreement on something. although the background check isn't the best, at least they came to some sort of agreement. when was the last time that happened? >> and the public is engaged in the debate, and the public demanding action from legislateors. that's critical. >> we are taking on so many issues, agreement isn't always to be celebrated. on the issue of background checks, i don't think it's a compromise worth having. >> okay, well, i'm kind of depressed by you today, will. >> sorry. >> will kain, robert zimmerman. >>> talk about a spoiler alert. kevin bacon of "the following" reveals a major plot twist and now he's apologizing. carfirmation. only hertz gives you a carfirmation. hey, this is challenger. i'll be waiting for you in stall 5. it confirms your reservation and the location your car is in, the moment you land. it's just another w
because the debt ceiling debate that's coming before us. >> let me tell you why you are not easing my indigestion, i am afraid of what success may look like. >> nobody gets all that they want. and it's about time we started to come to some sort of agreement on something. although the background check isn't the best, at least they came to some sort of agreement. when was the last time that happened? >> and the public is engaged in the debate, and the public demanding action...
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Apr 12, 2013
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and i've always agreed, as the gentleman said, the debt ceiling is something that is necessary for the operations of government. we'll bring a bill forward that will ensure that we don't go into default, but i do think that we should be mindful of how we're going to tell the public we're going to go in the future and pay off these debts. because as the gentleman has many children and grandchildren, he doesn't want his kids nor do i want mine to be shouldering the debt and paying our bills. we should be really committing ourselves not to just borrowing more, not to just taking more from taxpayer dollars because we've done a lot of that this year already. the gentleman talks about the need to proceed with revenues. we already have close to $650 billion i of additional static revenues, taxes that are accounted for because of the fiscal cliff deal. so it's not that there's no revenues in the mix here. so again i look forward to working with the gentleman. i appreciate his commitment to longevity in this country, sustaining economic growth or at least restarting it again so we can sustain i
and i've always agreed, as the gentleman said, the debt ceiling is something that is necessary for the operations of government. we'll bring a bill forward that will ensure that we don't go into default, but i do think that we should be mindful of how we're going to tell the public we're going to go in the future and pay off these debts. because as the gentleman has many children and grandchildren, he doesn't want his kids nor do i want mine to be shouldering the debt and paying our bills. we...
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Apr 13, 2013
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that is the spirit in which i think the majority approaches the debt ceiling, to say, how are we going to tell the people that we're going to pay off the debt that we have now gone ahead and incurred. i think a little bit of forethought here, planning into the future, how are we going to pay the bills, is the emphasis. and i have always greed as the gentleman said, the debt ceiling something that is something that is necessary. we will bring a bill forward. i do think that we should be mindful of how we are going to tell the public we're going to go into the future and pay off these debts. as the gentleman has many children and grandchildren, he doesn't want his kids, nor do i want mine to be shouldering the debt and paying our bills. we should be really committing ourselves to not just borrowing more, not to just taking more from taxpayer dollars, because we have done a lot of that this year already. the the gentleman talks about the need to proceed with revenues. we already have bationed on some $50 billion of status revenues, taxes that are accounted for because of the fiscal cliff
that is the spirit in which i think the majority approaches the debt ceiling, to say, how are we going to tell the people that we're going to pay off the debt that we have now gone ahead and incurred. i think a little bit of forethought here, planning into the future, how are we going to pay the bills, is the emphasis. and i have always greed as the gentleman said, the debt ceiling something that is something that is necessary. we will bring a bill forward. i do think that we should be mindful...
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Apr 15, 2013
04/13
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ceiling once again approaches. indeed, it was made all the more worrisome by the house republican hearing yesterday that focus on the debt ceiling in terms of the possibility of prioritizing our obligations, obligations all emanating from congressional actions. we cannot continue on this dangerous path. hopefully this hearing will serve a constructive opportunity to embrace a different path. i yield back. >> thank you very much, mr. levitt. again, it's my pleasure to welcome secretary jack lew back to the committee on ways and means. we look forward to your testimony. the committee has received your written statement. it will be made a part of the formal record. secretary lew, you're recognized for five minutes. >> thank you, mr. chairman, and thank you, mr. chairman, ranking member levin, for your gracious welcome here today. it's an honor to appear and to visit the president's budget for next year. and i sit here as the chairman noted, surrounded by four decades of memories of many important occasions. when bipar
ceiling once again approaches. indeed, it was made all the more worrisome by the house republican hearing yesterday that focus on the debt ceiling in terms of the possibility of prioritizing our obligations, obligations all emanating from congressional actions. we cannot continue on this dangerous path. hopefully this hearing will serve a constructive opportunity to embrace a different path. i yield back. >> thank you very much, mr. levitt. again, it's my pleasure to welcome secretary...
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Apr 15, 2013
04/13
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ceiling. at the end of the day, we got 2-1/2 trillion in spending restraints. the caps and the sequester, have been repeated efforts by democrats in the senate and the white house to try and undo that agreement of august 2011, but it's held. the sequester is holding. despite the historianics of not having easter egg hunts or not letting kids go through the white house, not letting the blue angels fly. they do that and looks silly, the boy who cried wolf. and at the end of the day we taxpayers won the fight, and those who believed in d.c., you had to raise taxes, in order to get any spending restraint, were wrong. we got suspending restraint without the tax increases. obama -- president obama is again saying'll never let you cut the budget unless you give me more tax increases. he said that the last three years and has lost several times on that fight. so does he want to have spending retrain or spitelement reform? -- restraint or entitlement reform? i don't think so. just look backwards. his f
ceiling. at the end of the day, we got 2-1/2 trillion in spending restraints. the caps and the sequester, have been repeated efforts by democrats in the senate and the white house to try and undo that agreement of august 2011, but it's held. the sequester is holding. despite the historianics of not having easter egg hunts or not letting kids go through the white house, not letting the blue angels fly. they do that and looks silly, the boy who cried wolf. and at the end of the day we taxpayers...
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Apr 13, 2013
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ceiling again or else the u.s. could default on its credit. i think that is the sort of mechanism by which we're going to have more -- somebody is going to have to take some action. the question is how big. the president still on this offensive. i think what we have heard from republicans is they're genuinely impressed that the president has gone to these lengths. he's made them feel comfortable in the meetings but the problem is the president in showing good faith to talk about cutting entitlements and social security, he's angered some democrats and he doesn't have a lot of wiggle room now. he's hoping republicans meet him halfway. the problem still is the taxes. the republicans say they raised it in january. the president got what he wanted, albeit less than he want, but they don't want to do that again. let's have the budget cuts without that. i think that's the problem. as much as the president is wining and dining, i think this is where the sticking point will continue to be. >> you talk about no wiggle room.
ceiling again or else the u.s. could default on its credit. i think that is the sort of mechanism by which we're going to have more -- somebody is going to have to take some action. the question is how big. the president still on this offensive. i think what we have heard from republicans is they're genuinely impressed that the president has gone to these lengths. he's made them feel comfortable in the meetings but the problem is the president in showing good faith to talk about cutting...
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Apr 18, 2013
04/13
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obviously the debt ceiling is another point of which we will face with how to deal with the spiraling debt and out-of-control spending in washington, and i know the h desire to see the reduction i the need to borrow, the balancing of our budget and actually a return to a real growth in america of jobs, of the economy, of economic opportunity for all. and it is in that spirit that i know that he approaches this issue and so do i and i would say to the gentleman, when the rating agencies look at the credit worthiness of our nation -- and i think some of which have said as much -- it is, yes, to observe a political system that works, but it is also to make sure that there is demonstrable evidence that we are making progress in dealing with the problem. and that is the focus that we must all maintain. i mean, we know that the dispr portionate problem of the debt -- disproportionate problem of the debt have to deal with the unfunded liabilities of the entitlement programs. and we can see the white house and the president call for tax increases every other day, every day for that matter, an
obviously the debt ceiling is another point of which we will face with how to deal with the spiraling debt and out-of-control spending in washington, and i know the h desire to see the reduction i the need to borrow, the balancing of our budget and actually a return to a real growth in america of jobs, of the economy, of economic opportunity for all. and it is in that spirit that i know that he approaches this issue and so do i and i would say to the gentleman, when the rating agencies look at...
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Apr 14, 2013
04/13
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the democrats through obama said we will take on entitlements and we have the debt ceiling which we run up against in july again, and all of that is a recipe for a deal and if there is no deal and i am wrong and it doesn't happen, we are in for troubled times. >> the economy is getting worse for ordinary people. >> i don't think you can look at this, what washington doesn't care about is what is happening to the average american, what they are care about. we are told the storm is great because the fed is printing money like crazy. and to build up assets for banks but no one will stand up. what we have is a set of policemen dynamics which are relevant to so many americans. >>gregg: the taxes are kicking in, employers are dropping their obama health care or they are switching to higher workers' contribution and people with their own coverage are paying higher premiums. >> it is already beginning. you can see the unintended consequences. >> contributing to the decline in the president's levels? >> it is only going. for four years, when any us, anyone watching, goes to the drugstore and can
the democrats through obama said we will take on entitlements and we have the debt ceiling which we run up against in july again, and all of that is a recipe for a deal and if there is no deal and i am wrong and it doesn't happen, we are in for troubled times. >> the economy is getting worse for ordinary people. >> i don't think you can look at this, what washington doesn't care about is what is happening to the average american, what they are care about. we are told the storm is...
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Apr 12, 2013
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i have always agreed, as the gentleman said, the debt ceiling is something that is necessary for the operations of government. we will bring a bill forward that will ensure that we do not go into default, but i do think that we should be mindful of how we are going to tell the public we are going to go into the future and pay off these debts. the gentleman has many children and grandchildren. he does not want his kids, nor do i want mine to be shouldering the debt and paying our bills. really committing ourselves not to just borrowing more, not to just taking more from taxpayer dollars, because we have done a lot of that this year already. the gentleman talks about the need to proceed with revenues. we already have close to $650 billion of additional static revenues, taxes that are accounted for because of the fiscal clef deal. it is not that there are no revenues in the mix here. i look forward to working with the gentleman. i appreciate his commitment to longevity in the country, sustaining economic growth or restarting its the we can -- restarting its so that we can sustain it. i
i have always agreed, as the gentleman said, the debt ceiling is something that is necessary for the operations of government. we will bring a bill forward that will ensure that we do not go into default, but i do think that we should be mindful of how we are going to tell the public we are going to go into the future and pay off these debts. the gentleman has many children and grandchildren. he does not want his kids, nor do i want mine to be shouldering the debt and paying our bills. really...
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Apr 18, 2013
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we couldn't think we're going to get a public policy flare-up like we had in '10 or '11 during the debt ceiling debate or what happened during the whole election process which so influenced business confidence a year ago. so those two factors are better than they were each of the last three years. the growth piece is similar. on balance we think that adds up to something less than those prior three-year corrections. but close to at least last year's. >> there are some interesting calls in that analysis. barry, thank you very much for your time. barry knapp there at barclays. >>> switching gears a bit from the broader markets to technology, specifically apple and its slide back below $400 today. does the news out of verizon offset all the bad news we got from supplier cirrus yesterday. dan niles, is the cio of alpha one capital, he's been negative on apple shares for six to nine months or so. joins us on the news line today. dan, welcome back. >> thanks, carl. nice to be on. >> does any of the activations of the iphone out of verizon negate or offset what spooked us from cirrus yesterday
we couldn't think we're going to get a public policy flare-up like we had in '10 or '11 during the debt ceiling debate or what happened during the whole election process which so influenced business confidence a year ago. so those two factors are better than they were each of the last three years. the growth piece is similar. on balance we think that adds up to something less than those prior three-year corrections. but close to at least last year's. >> there are some interesting calls in...
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Apr 11, 2013
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the houseebt ceiling, will move now to put its priority in place. we will move now early to reassure people that america will pay its debts. we are serious about tackling our problems. affected sequestration your district? guest: it has not. people laugh when you talk government0-pound being forced to lose 10 pounds. closing local air-traffic towers. they think it is a small step in the right direction. host: was it a political victory for republicans? guest: it helped reassure americans that we were serious about making some small but important steps in the right lowerion, walking those levels in was important -- locking those lower levels in was import. i believe we have the political courage to get this done. we have laid out courageous steps on medicare and medicaid to solve those. the president is willing to take some small steps towards us. host: wallace is a republican in dallas. caller: good morning. thank you for taking my call. police officer and i collect revolvers. my comment for the representative is that i have been leery when the gove
the houseebt ceiling, will move now to put its priority in place. we will move now early to reassure people that america will pay its debts. we are serious about tackling our problems. affected sequestration your district? guest: it has not. people laugh when you talk government0-pound being forced to lose 10 pounds. closing local air-traffic towers. they think it is a small step in the right direction. host: was it a political victory for republicans? guest: it helped reassure americans that...